So I believe the company selling the block sold it at a discount to a consortium of investment banks, who then bring it to market and sell it over time onto the market, trying to make a margin between their discounted buy price and the current market price.My understanding was that the seller announced they had 100 million shares for sale at market and over the evening the brokers had to line up enough buyers to clear that sale before the opening of formal sales. Clearly puts enormous pressure on the price.
Interestingly enough the SP dropped even further as confidence was lost. Today there has been some partial recovery.
Aha ! That makes sense. I was really wondering how the brokers were able to somehow "produce" buyers for the big share block. So from an investors POV the huge "sale" of FMG shares shows itself as a very steep drop in price because that in fact is the average price at which the shares have been acquired and then the open market attempts starts making decisions about buying back in at the discounted price or higher.So I believe the company selling the block sold it at a discount to a consortium of investment banks, who then bring it to market and sell it over time onto the market, trying to make a margin between their discounted buy price and the current market price.
So yesterday the much larger volumes hitting the market than normal was the block trade being distributed onto the market.
Precisely. It's why the private sale needs to still be on the public record.Aha ! That makes sense. I was really wondering how the brokers were able to somehow "produce" buyers for the big share block. So from an investors POV the huge "sale" of FMG shares shows itself as a very steep drop in price because that in fact is the average price at which the shares have been acquired and then the open market attempts starts making decisions about buying back in at the discounted price or higher.
Thanks
Your pic tells the story...APPOINTMENT OF NON-EXECUTIVE DIRECTOR
Fortescue Ltd (Fortescue, ASX: FMG) today advises that prominent Australian indigenous leader,social advocate and lawyer, Mr Noel Pearson has been appointed to the Fortescue Board as aNon-Executive Director.
View attachment 181789
An astute move by FMG. Noel Pearson is well respected and will certainly offer important perspectives to how FMG develops it's relations with the indigenous communities on native lands.APPOINTMENT OF NON-EXECUTIVE DIRECTOR
Fortescue Ltd (Fortescue, ASX: FMG) today advises that prominent Australian indigenous leader,social advocate and lawyer, Mr Noel Pearson has been appointed to the Fortescue Board as aNon-Executive Director.
View attachment 181789
I'd say he has just as many haters as likers, but he is hardly a mining industry specialist.An astute move by FMG. Noel Pearson is well respected and will certainly offer important perspectives to how FMG develops it's relations with the indigenous communities on native lands.
I suppose it had to happen at some stage, whether he is director material remains to be seen.APPOINTMENT OF NON-EXECUTIVE DIRECTOR
Fortescue Ltd (Fortescue, ASX: FMG) today advises that prominent Australian indigenous leader,social advocate and lawyer, Mr Noel Pearson has been appointed to the Fortescue Board as aNon-Executive Director.
View attachment 181789
My feelings exactly.they just need to stick to mining iron ore
I'd say he has just as many haters as likers, but he is hardly a mining industry specialist.
Twiggy is having a few problems with royalties, it's a long shot to use him as a tool to liaise with this business.
Most Indigenous won't take advice from anyone outside of their clan to start with, and he is not much liked by them either.
I personally think this company is starting to get too political, they just need to stick to mining iron ore.
I will sit tight to watch the play.An astute move by FMG. Noel Pearson is well respected and will certainly offer important perspectives to how FMG develops it's relations with the indigenous communities on native lands.
I've pooped my pants enough with the hydrogen bungle, It's 50% of my portfolio holdings.I will sit tight to watch the play.
i am aholder.
Lot of parellels no doubti bought as low as $14.20 in 2021
maybe that will happen again
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?